During the week ending October 25, average cold rolled coil (CRC) prices in the Chinese domestic market have increased, while transaction activity in the overall market has been at low-to-medium levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, major Chinese steelmakers have increased their ex-works prices, exerting a positive impact on CRC prices in the domestic spot market. Meanwhile, due to the 19th National Congress of the Communist Party of China held on October 18-24, railway transportation and steelmakers’ capacity utilization rates have been limited, reducing the volume of CRC supply arriving in the market. Accordingly, traders have mostly held an optimistic view of the prospects for the CRC market and pushed up their prices. However, demand has not indicated any significant improvement yet. It is thought that CRC prices in the Chinese domestic market will likely move upwards in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thin CRC |
1.0 mm x 1,250 mm x C |
ST12 |
Shanghai |
MaSteel |
4,740 |
714 |
0 |
|
Tianjin |
Tangshan Steel |
4,670 |
703 |
↑100 |
|||
|
Lecong |
MaSteel |
4,780 |
720 |
↑10 |
|||
|
Average |
- |
4,730 |
712 |
↑37 |
|||
|
Thin CRS |
1.0 mm x 1,250mm x 2,500 mm |
ST12 |
Shanghai |
Anshan Steel |
4,770 |
718 |
0 |
|
Tianjin |
Anshan Steel |
4,950 |
745 |
↑50 |
|||
|
Lecong |
Anshan Steel |
4,800 |
723 |
↑10 |
|||
|
Average |
- |
4,840 |
729 |
↑20 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.64 RMB